STATE OF THE MARKETS
Gift Nifty (Earlier SGX Nifty) signals a positive start.
Nifty futures on the Gift Nifty traded 97 points higher at 24,346.
Tech View: Going forward, the 24,250–24,300 zone is likely to act as a crucial resistance band. A decisive move above this range could trigger a rally towards 24,750–24,800. On the other hand, failure to break above 24,300 convincingly may lead to renewed selling pressure in the market.
India VIX: India VIX, which is a measure of the fear in the markets, fell 8.5% to settle at 18.76 levels.
Asian Markets
Asian equities followed Wall Street’s gains, supported by hopes of a potential US-Iran ceasefire and strong corporate earnings that lifted investor sentiment.The MSCI Asia Pacific Index rose 0.4% at the open on Thursday, as traders wagered that easing tensions in the Middle East could cool oil prices and support global growth. This came after both the S&P 500 and Nasdaq 100 closed at record highs, with financial stocks advancing on the back of better-than-expected revenues from Bank of America and Morgan Stanley.
Global Markets Watch
- S&P 500 futures rose 0.1% as of 9:02 a.m. Tokyo time
- Hang Seng futures rose 0.6%
- Japan’s Topix rose 0.7%
- Australia’s S&P/ASX 200 rose 0.2%
- Euro Stoxx 50 futures fell 0.7%
Wall Street Hits Record High
Wall Street benchmarks — the S&P 500 and the tech-heavy Nasdaq — ended at record highs on Wednesday, as easing concerns over U.S.-Iran tensions and upbeat earnings expectations lifted risk appetite. Oil prices also steadied after reports that Iran may allow limited ship movement through the Strait of Hormuz.
U.S. President Donald Trump said the conflict involving Israel was “close to over,” with the White House signalling optimism around a potential deal. However, industry sources noted that traffic through the Strait of Hormuz — a vital route for global oil and gas supplies — remains well below normal levels.
Forex News
- The euro was little changed at $1.1806
- The Japanese yen rose 0.1% to 158.83 per dollar
- The offshore yuan was little changed at 6.8145 per dollar
- The Australian dollar was little changed at $0.7174
Oil falls
Oil prices edged lower in early Thursday trade as optimism over easing U.S.-Iran tensions outweighed concerns about ongoing supply disruptions, following reports that Iran may allow ships to pass through the Strait of Hormuz.
Brent crude futures fell 44 cents, or 0.5%, to $94.49 a barrel at 0021 GMT, while U.S. West Texas Intermediate crude declined 70 cents, or 0.8%, to $90.59 a barrel.
Stocks in F&O ban today
SAIL
Sammaan Capital
Securities in the ban period under the F&O segment include companies in which the security has crossed 95% of the market-wide position limit.
FII/DII action
Foreign portfolio investors net bought shares worth Rs 666 crore on Wednesday. DIIs, meanwhile, were net buyers at Rs 569 crore.
Rupee
The Indian rupee closed nearly unchanged on Wednesday, wedged between comfort from a decline in crude oil prices and persistent dollar demand from local importers, including oil marketing companies.
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